Explain any four features of Business Environment.
The main features of business environment are:
1. All the external forces:
Business Environment includes all the forces, institutions and factors which directly or indirectly affect the Business Organizations.
2. Specific and general forces:
Business environment includes specific forces such as investors, customers, competitors and suppliers. Non-human or general forces are Social, Legal, Technological, Political, etc. which affect the Business indirectly.
3. Inter-relation:
All the forces and factors of Business Environment are inter-related to each other. For example with inclination of youth towards western culture, the demand for fast food is increasing.
4. Uncertainty:
It is very difficult to predict the changes of Business Environment. As environment is changing very fast for example in IT, fashion industry frequent and fast changes are taking place.
The main features of business environment are:
1. All the external forces:
Business Environment includes all the forces, institutions and factors which directly or indirectly affect the Business Organizations.
2. Specific and general forces:
Business environment includes specific forces such as investors, customers, competitors and suppliers. Non-human or general forces are Social, Legal, Technological, Political, etc. which affect the Business indirectly.
3. Inter-relation:
All the forces and factors of Business Environment are inter-related to each other. For example with inclination of youth towards western culture, the demand for fast food is increasing.
4. Uncertainty:
It is very difficult to predict the changes of Business Environment. As environment is changing very fast for example in IT, fashion industry frequent and fast changes are taking place.
